John Cooper

There is with the acceptance of debt acknowledgment that something has been received. The gift can be without a demand for repayment, but the existence of the debt can be generated by the need of the recipient to repeat the act of kindness. The "debt of gratitude" is a positive and fulfilling self-imposed obligation, created by an act of kindness by another. Not only does it establish mutual respect between two people, it perpetuates the principle of generosity.

John Cooper QC is a leading criminal and human rights barrister

Anastasia de Waal

Living beyond one's means has become so normalised that we're blinkered to its consequences. Perhaps for those for whom getting into debt eg via five-star holidays/Gucci handbags, is avoidable, a bit of shame would be a great service. On the other hand, for an increasing number living in debt is a strategy for survival. Ultimately, whether it's national or personal debt, down to mismanagement or unavoidable adversity, if shame leads to burying instead of addressing the problem, it's undesirable.

Anastasia de Waal is a social policy analyst at the thinktank Civitas

Barbara Gunnell

Debt is so much part of life that we would be suffocating in shame if we hadn't found a way to feel easy with it. It seems self-evident that countries and individuals should borrow with clear repayment plans that accommodate the possibility of dives in the markets. Those who should feel truly ashamed are the bankers for encouraging dodgy loans and then slicing, rebundling and trading the worthless debts. We see no sign of that. Instead, their bonuses distort the economy. A bit of shame about greed and recklessness would be useful.